Weiss Asset Management LP Acquires New Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Weiss Asset Management LP purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 206,023 shares of the casino operator's stock, valued at approximately $19,753,000. Weiss Asset Management LP owned approximately 0.19% of Wynn Resorts as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Quantinno Capital Management LP raised its stake in Wynn Resorts by 9.5% during the 3rd quarter. Quantinno Capital Management LP now owns 29,895 shares of the casino operator's stock worth $2,866,000 after buying an additional 2,606 shares during the period. Royal London Asset Management Ltd. raised its position in shares of Wynn Resorts by 3.3% during the third quarter. Royal London Asset Management Ltd. now owns 41,854 shares of the casino operator's stock worth $4,013,000 after purchasing an additional 1,355 shares during the period. IHT Wealth Management LLC lifted its holdings in shares of Wynn Resorts by 1.7% in the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator's stock worth $654,000 after purchasing an additional 112 shares in the last quarter. Investment Management Corp of Ontario acquired a new stake in Wynn Resorts in the 3rd quarter valued at $322,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Wynn Resorts by 466.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 209,760 shares of the casino operator's stock valued at $20,112,000 after purchasing an additional 172,717 shares during the period. Institutional investors and hedge funds own 68.87% of the company's stock.

Wynn Resorts Trading Up 0.4 %

Shares of NASDAQ:WYNN traded up $0.42 during mid-day trading on Friday, reaching $94.82. The company had a trading volume of 755,080 shares, compared to its average volume of 2,211,452. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The company's 50-day moving average price is $95.69 and its 200-day moving average price is $87.91. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 3.48 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the company earned $0.99 EPS. The firm's quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts anticipate that Wynn Resorts, Limited will post 4.78 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, November 15th. Wynn Resorts's payout ratio is currently 12.33%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. StockNews.com cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Tuesday, September 17th. Stifel Nicolaus decreased their price objective on Wynn Resorts from $121.00 to $103.00 and set a "buy" rating for the company in a report on Friday, September 13th. Macquarie restated an "outperform" rating and issued a $120.00 target price on shares of Wynn Resorts in a report on Tuesday, November 5th. Finally, Barclays decreased their price target on Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Wynn Resorts currently has an average rating of "Moderate Buy" and an average price target of $115.71.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,650 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.52% of the stock is owned by insiders.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.